Agora Data highlights latest crowdsourced securitization – Auto Remarketing
It appears Agora Data might be doing more than just creating a “level playing field” for dealerships and finance companies, but also providing a place for financial victories, too.
On Monday, the auto fintech firm announced the closing of ACAST 2022-1, the company’s most recent crowdsourced securitization that originated on Thursday.
Powered by proprietary machine learning algorithms and radical artificial intelligence, Agora said this most recent transaction aggregated more than 40 independent dealers and finance companies with auto portfolios ranging from $100,000 to more than $60 million into a single securitization.
Chief executive officer Steve Burke said this closing marks another major milestone in Agora’s commitment to non-prime auto originators and the auto finance market.
“I am excited for the dealer community as our patent pending use of artificial intelligence and finance solutions enable dealers of all sizes to compete on a level playing field with the large dealer groups and institutions,” Burke said in a news release.
“Securitizations enable Agora to offer higher advances plus abundant and affordable capital to independent dealers. The dealer receives all of the upside cash as consumer loans continue to perform. Furthermore, the non-recourse features of securitization help dealers with balance sheet management,” Burke went on to say.
Agora reiterated that its technology-based solutions offer dealers a way to grow without giving up their equity or assuming too much risk.
The company’s advanced data analytics forecast non-prime cash flows with precision using predictive modeling and artificial intelligence. The company’s platform also provides benchmarking and trends to maximize loan performance and optimize underwriting criteria to improve profitability.
“Our prior securitizations are performing in line with expectations, validating Agora’s comprehensive data analytics with at least 98 percent accuracy,” Agora chief financial officer Chris Hawke said in the news release. “For dealers, that means the secret to low-cost funding is now unlocked.
“As a bonus, dealers can leverage their newly found capital to grow more safely, efficiently, and sustainably, since their operations are based on predictable and reliable data,” Hawke went on to say.
The company expects to close more crowdsourced securitizations this year, providing “unprecedented” access to low-interest-rate funds and accelerating the growth of independent dealers and finance companies nationwide.
For more information about Agora’s suite of dealer resources, including its free technology platform with real-time data, visit www.agoradata.com or call (877) 592-4672.